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Who pays for the title examination the buyer or seller of real estate?
Wiki User
∙ 9y ago
Practices may vary in different jurisdictions. Generally the buyer's attorney arranges to have the title examined and the buyer pays the fee as part of their closing costs. However, if a title defect is disclosed and further research and corrective work must be done those costs are shifted to the seller.
The issue could also be negotiated whereby the title exam cost is paid by the seller.
Wiki User
∙ 9y ago
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Caveat emptor applies to all real estate transactions in ca?
Yes. A buyer should always have a title examination performed by a professional and representation by an attorney who specializes in real estate law.
What is the maximum per diem a seller can charge a buyer in a Real Estate transaction and how is it calculated?
What are you charging them for. They are purchasing a piece of property at the price you come to an agreement on. Other fees can also be including but they have to be listed seperately, so when the title changes hands the total cost to the buyer is indicated in the said columns, that come from all the costs incurred from the sale. Per diem is a term that means DAILY. People draw up contracts in all different terms but I never heard of any buyers paying a daily fee in a aquisition transaction. What exactly is it that you are seeking the buyer to pay to you. When a closing date is set and the closing doesnt happen usually the contract is cancelled unless the parties decide to mediate to keep the contract open....
No seller of goods can give the buyer of a goods a better title to the goods than he himself has?
Only the owner of the goods or his authorized person can sell the goods. If the seller is not the owner of the good then a buyer cannot become the owner of the good even he has paid the value of good.Example :- Mr. Tutul steal a car and sells to Mr. Yunus for sale. Mr. Yunus cannot become the owner of a car because Mr. Tutul seller was not the owner of car.1. Agent Exceptions of Rules:-If goods are in a possession of a mercantile agent, he can pass a good title even he had no authority or his authority was restricted.2. Sale by Unpaid Seller:-An unpaid seller can sell the goods to the subsequent buyer if first buyer fails to make the full payment.Example:- Mr. Yunus sells a horse to Miss. Tazin for ten thousand and receives Tk. 3 thousand advance. Miss. Tazin promises to pay the balance on next Sunday at the time of delivery. Miss. Tazin does not pay the balance on Sunday. Mr. Yunus retains the horse and sells it to Mr. Tutul.3. Sale by Pledgee:-Under some special circumstances a pledgee can also sell the goods and buyer also gets a good title.Example:- Mr. Tutul borrows Tk. 100 lac from commercial bank and pledges his 10 acre land. Mr. Tutul fails to return the loan and Commercial bank sells the land to Mrs. Yunus the buyer gets the good title.4. Sale of Lost Goods:-If a person finds some lost good. Finder can sell the goods under some circumstances. The buyer gets the good title.Example:- Mr. Yunus finds a lost cow in the well. He hires the services of some people and draws the cow out of well. He spends $ 500 on this event. Mr. Tutul owner of the cow comes to know about the refuses to pay $ 500 to Mr.Yunus. Mr. Yunus sells the cow Mr. Kamal. Mr. Kamal gets a good title.5. Mercantile Agent:-If the goods or documents of title are in the possession of a mercantile agent, he can pass a good title. He can convey a better title to the buyer without having any authority to do so.6. Second Sale Due To Possession:-A person has sold the goods but the goods or documents continuously remains in his possession. He may sell them to the third party. If third party obtains the delivery of the goods and he has no knowledge about the previous sale he will get a good title.Example:- Mr. Yunus sells a horse to Miss. Farha has no place to keep it in her house. She leaves the horse in the house of Mr. Yunus. Mr. Yunus sells horse Miss. Zabeen fraudulently who buys in god faith. Miss. Zabeen will get a good title to the horse.7. Sale by One of the Joint Owner:-If there are many partners in business and one of them has the sole possession of goods with the permission of the other partners. If he sells the goods, the buyer will get a good title of goods, if he buys in good faith.Example:- There are three parties "X", "Y" and "Z". They own a shop in common. Shop is in the possession of "X" and he looks after the shop. "X" sells the shop to "M". "M" gets a good title.8. Sale under Implied Authority:-In some cases the conduct or any act of owner of goods leads the buyer to believe that seller id the owner of the goods. It is presumed that seller has the authority to sell the goods. In such cases buyer can get a better title of goods than the seller.Example :- Mr. Yunus a factory owner gives his employee. Mr. Tutul a quarter for living and also allows to repair. Mr. Tutul writes his name on the quarter and also do some repair to induce the public to believe that quarter belongs to him. Miss Sonny purchased the house from Mr. Yunus in good faith. So Sonny acquires a good title than a seller.9. Sale under Voidable Contract:-If a person obtains the goods under voidable contract and sells before the revocation of contract to other person. The buyer who obtains such goods has better title of goods if he acts in good faith.Example:- Mr. Yunus by misrepresentation induced Mrs. Farha to sell and deliver his car to him. After obtaining the car he sells the car to Miss. Tuba before the revocation of contract. Miss Tuba purchases the car in good faith and she does not know that title is defective. She acquires a good title.10. Solvency Case:-In case of companies and individuals the official receiver can convey better title to the buyer.Example:- Mr. Shoel becomes insolvent. Mr. Yunus is the official receiver of Mr. Shoel, and he can sell some goods of Mr. Shoel to Mr. Ali. Mr. Ali gets a good title.11. Sale before the Agreement To Buy:-A buyer obtains possession of the goods with the consent of the seller, he may sell or pledge before the agreement completes.Example:- Mr. Tutul agrees to buy a bus a pay for it, if his lawyer approves it. Mr. Tutul obtained the possession of the bus and sells to Miss. Tazin. After his lawyer disapproves. In this case Miss. Tazin gets a good title.
When is real estate reversionary?
Real property is subject to reversion if there was reversionary language in the deed or will that transferred the title.
What is meant by convey real estate?
Convey, in the law of real property, means to transfer the title to real estate from one owner to another by virtue of a written instrument that we call a deed. Think of "convey" as a substitute for "sell" when you are speaking of the transfer of real estate.
When is a title search not required for purchasing property?
A requirement for a title examination is usually triggered by financing. If the attorney who is representing the buyer must certify title to a lender then a title examination is required. However, any prudent buyer of real estate should have a comprehensive title examination performed to make certain the seller owns the property and there are no outstanding taxes, claims, liens and other encumbrances.
Who orders the title examination for real estate closings?
Generally, the necessary title work is ordered by the buyer's attorney and paid for by the buyer.
Who goes over the real estate title with the seller?
An attorney should handle all matters regarding the title to the property. The buyer's attorney arranges to have the title examined to make certain their client will receive good title to the property free of any defects or undisclosed encumbrances. If any problems are disclosed by the title examination, she/he will report them to the seller's attorney for correction.
What is a grantor?
A Grantor conveys whatever title the Grantor possesses in real estate to a grantee, the buyer. Grantor = seller.
What is acceptable evidence of a marketable title in real estate?
A title examination that shows no title defects or other encumbrances, and, title to be in the seller is acceptable evidence of marketable title.
'a seller cannot convey a better title to the buyer than he himself has' discuss this rule of law and point out its exceptions?
This rule means that a seller cannot transfer more rights to a buyer than they possess. Exceptions may include instances where the seller has obtained additional rights through a third party after the initial sale, or where the seller has the authority to pass on certain warranties or guarantees to the buyer. In such cases, the seller may convey a better title to the buyer than they initially had.
Can you transfer real estate title insurance to a buyer?
Not sure but i think can't transfer real estate title insurance to buyer
Is the buyer or seller responsible for title insurance in Texas?
The seller is required to provided a clear title; purchasing title insurance is generally a part of this.
Caveat emptor applies to all real estate transactions in ca?
Yes. A buyer should always have a title examination performed by a professional and representation by an attorney who specializes in real estate law.
If a buyer does not have a title search done for a real estate purchase could he be in breech of contract?
He would be in breach only if he agreed in writing (in the contract) to pay for a title examination as a condition of the sale or transaction.
If the party you are buying the car from owes the bank more than what you agree to pay IF both send in a check s who gets the title the buyer or the seller and how is the buyer protected?
The seller will get the title. It may vary in different states, but I would suggest the buyer have a notarized document prepared which has a promise that the seller will turn the vehicle/title over. It a chance that buyer will take.
When does a seller have to supply the buyer with a disclosure statement?
If your question concerns real estate, the seller must advise the buyer, in writing, of all known dangers on the land and defects in the title within a reasonable time prior to closing the sale to give the buyer an opportunity to decide whether or not to go through with the purchase after knowing all the facts.
